Showing posts with label M&A. Show all posts
Showing posts with label M&A. Show all posts

Saturday, March 31, 2018

John Wisbey Is Pleased To Report: After Granting Himself Options And Convertible Debenture At 8.5 Cents He Can Become The Largest Shareholder Of International Lithium.



Please read our legal disclaimer. There is no tax, legal or investment advice on this blog. Authors are expressing only their personal opinions. Different authors can have different opinions. We have guest writers. We are using open source public information only. We have decided to use our Pen Name in order to protect our sources. We believe in Democracy and Free Speech. Please do not send us any insider information.





It will be very interesting what kind of questions ILC shareholders will be asking "the new management":


International Lithium Announces Convertible Debenture Private Placement


"Vancouver, B.C. March 29, 2018: International Lithium Corp. (the “Company” or “ILC”) (TSX VENTURE: ILC) announces, further to its news release of March 23, 2018, that it will conduct a non-brokered private placement (the “Private Placement”) of a secured convertible debenture (the “Debenture”) in the principal amount of up to CAN $1,180,000 with John Wisbey, Chairman, CEO and a significant shareholder of the Company. The Debenture will mature on June 19, 2019 and bear interest at a rate of 15% per annum, payable quarterly.  The lender may convert at any time, all or a portion of the convertible loan principal into common shares of the Company at a price of CAN $0.085 per common share, being the closing trading price of ILC shares on March 28, 2018. Should Debenture conversion take place more than one year after closing, the conversion price will be CAN $0.10 per common share.
The Debenture will be secured by a general security agreement against the Company’s assets.
Mr. Wisbey currently owns or controls 2,261,000 common shares of the Company, representing 2.39% of the outstanding shares, and securities convertible or exercisable into 6,255,943 common shares.  If all these securities were converted or exercised (and if no others of the same class were converted or exercised) this would represent 8.45% on a diluted basis.  Should the CAN $1,180,000 Debenture and all other securities be converted, Mr. Wisbey would own 22,399,296 shares, representing 19.52% on a diluted basis,  calculated on the basis of  no other securities of the same class being converted. If the new convertible debenture were converted in full,  Mr. Wisbey would become the largest shareholder of the Company."




It looks like "the new management'" has to learn the business they are Taking Over first - before rushing more NRs or "printing cheap shares and options for themselves":



International Lithium Provides Corporate Update


Question 1 "In total, the Company needs to raise around CAN $5 million of finance in 2018 to meet its commitments to fund Mariana, Avalonia (???) and pay staff and suppliers."

Avalonia was fully funded by Ganfeng Lithium on January 11, 2018.

International Lithium Reports $1 million Budget for the Avalonia Lithium JV, Ireland

"January 11, 2018 The ownership of the Avalonia project is currently 55% GFL and 45% ILC. GFL have an option to earn an additional 24% by either incurring CDN$10 million expenditures on exploration activities or delivering a positive feasibility study on the project, at which time the ownership will be 79% GFL and 21% ILC."

Question 2 "This week the Company has drawn down around CAN $200,000 of short term financing from John Wisbey out of a total being made available by John Wisbey of CAN $1,180,000. The funds were used to pay and cure a Mariana cash call that was in default, pay an accounting fee to allow completion of the year-end financial statements so that they can be filed on time, and to pay certain other overdue creditors." 

How everything was done with just $200,000? Is Ganfeng suddenly in love with John Wisbey and ILC does not have to pay cash calls in full amounts on time?

Question 3 "The new management needs to address the level of risk that the Company has consequently been placed in, including meeting the need to pay staff and suppliers as well as meet the cash calls on Mariana and other projects."

All "other projects" were funded by JV Partners in January 2018?

International Lithium Announces Completion of Successful Drill Program at Mavis Lake Lithium Project

https://internationallithium.com/international-lithium-announces-completion-successful-drill-program-mavis-lake-lithium-project/

"February 19, 2018

About the Mavis Lake Lithium Project 
The Mavis Lake Project is situated 19 kilometres east of the town of Dryden, Ontario.  The Project is ideally situated in close vicinity to the Trans-Canada highway and railway major transportation arteries linking larger cities such as Thunder Bay, Ontario, to the southeast and Winnipeg, Manitoba, to the west.
The current drill program is wholly funded by Pioneer as part of its earn-in on the Mavis Lake Project (see Company news release dated March 14, 2016).

The Mavis and Raleigh projects are under option to strategic partner Pioneer Resources Limited (ASX: PIO) pursuant to which Pioneer can acquire up to a 51% interest in the projects."

Update: Thank you, we have received more questions for "the new management" of ILC to answer:

More Questions:

4. What else "the new management" has forgotten to report and/or reported "what looks like "materially different" compared to the real statements of facts"? When the NRs are coming to clarify the continuous disclosure for ILC for shareholders? 

5. Has company granted any options at this "what looks like "artificially depressed" share price level"? Who has voted on it? Are they the same directors who are getting these options? Are they conflicted and interested parties? Has "new management" used this created opportunity to "what looks like can be maybe qualified" as "unlawful enrichment"?

6. Is company in default on any of its obligations?

7. Is company in a cross default on any of its obligations?

8. Who has voted and approved Change of Control at ILC?

9. Who has voted and approved this "financing" at such "what seems to be an "artificially depressed" share price level"? Are they the same people who are getting this Convertible Debenture? Are they conflicted and interested parties? Has "new management" used this created opportunity to "what looks like can be maybe qualified" as "unlawful enrichment"?

You can leave us your questions in comments to this post or send them directly.

More questions are coming ...

Monday, August 17, 2015

Energy And Precious Metals Royalty Company: TNR Gold Holds 2015 Annual General Meeting.

Energy And Precious Metals Royalty Company: TNR Gold Holds 2015 Annual General Meeting.




  
  We are very fortunate to have the strong support for TNR Gold from its shareholders. We continue to realise our business plan and building Royalty Company holding Royalty and Stakes in Precious and Energy Metals. International Lithium development with Ganfeng Lithium is at the front line of our advance now.

TNR Gold main assets include:






  Sale of our assets in Los Azules copper project will provide TNR Gold with capital to advance our other projects. International Lithium is developing its J/V projects with Ganfeng Lithium - one of the top world leaders in Lithium materials production from China.

TNR Gold And Los Azules Copper: McEwen Mining - Back To The Basics.

  


  There is very little coverage on Los Azules copper project despite of being "One of the largest undeveloped copper deposits in the world" - according to McEwen Mining. I am very pleased to find out this publication about McEwen Mining, Argentina and magnitude of Los Azules copper project.
  Please read carefully my legal disclosure. All this material is provided for information only, I was not able to verify any technical information in this article, it should not be relied upon in any investment decisions.
  TNR Gold holds now 0.4% NSR on the whole Los Azules copper deposit, 1% bonus on the sale of Los Azules and McEwen Mining shares. You can find all our financial information in the official reporting on SEDAR.


  "Copper and Lithium become the strategic metals for the ongoing green revolution. Solar and Wind Energy and Electric Cars will drive the new demand for these metals. Solar Energy is growing very fast all over the world now. Energy Storage will be the next step to ignite this growth. This is the new focus of Elon Musk and his Gigafactory. He will introduce the home storage system based on the lithium batteries in the next few months. Copper will have its special place in this mass scale roll out of distributed energy generation systems with Wind and Solar Power. Integral part of this system - Energy Storage is getting popular now with Elon Musk Gigafactory and Warren Buffet with BYD making the headlines. These Trillion Dollar industries: Electric Cars and Energy Storage will drive the demand for Copper and Lithium in the future. Read more."



TNR Gold:

TNR GOLD HOLDS 2015 ANNUAL GENERAL MEETING

"August 7, 2015            
TNR GOLD HOLDS 2015 ANNUAL GENERAL MEETING
Vancouver B.C.:  TNR Gold Corp. (“TNR” or the “Company”) held its Annual General Meeting on August 6, 2015 and is pleased to announce that all resolutions proposed in the information circular were passed. In addition, all agenda items, as outlined in the circular, were approved and all directors standing for election were re-elected. The Directors for the ensuing year will consist of Mr. Gary Schellenberg, Mr. Kirill Klip, Mr. Paul Chung and Mr. Greg Johnson.
Mr. Gary Schellenberg was reappointed President and Chief Executive Officer. Mr. Kirill Klip was appointed Non Executive Chairman of the Board and will directly support and advise the Chief Executive Officer of the Company. Mr. Jerry Bella was reappointed Secretary and Chief Financial Officer, Mr. John Harrop was reappointed Vice President of Exploration and Mr. Anthony Kovacs was appointed Chief Operating Officer. 
ABOUT TNR GOLD CORP. 
Over the past twenty-five years TNR, through its lead generator business model, has been successful in generating high quality exploration projects around the globe.  With the Company’s expertise, resources and industry network, it is well positioned to aggressively identify, source, explore, partner and continue to expand its project portfolio.
In 2014 TNR Gold converted a back-in right on a portion of the Los Azules copper deposit in Argentina, owned by McEwen Mining, into a 0.4% NSR on the entire Los Azules deposit (see news release dated 17 October 2014).
In 2013 TNR Gold reported an inferred mineral resource at the Shotgun Gold project in Alaska containing 20,734,313 tonnes at 1.06 grams per tonne (“g/t”) gold for a total of 705,960 ounces gold (“Au”) using a 0.5 g/t Au cut-off (see news release dated 22 April 2013).
In 2011 TNR listed subsidiary, International Lithium Corp. (TSX:ILC.V), which demonstrates the successful application of TNR’s business model in which TNR shareholders benefited from a unit distribution upon spin-out of TNR's lithium and rare metals projects.  TNR remains a large shareholder in ILC at 25.5% of outstanding shares.
At its core, TNR provides significant exposure to gold and copper through its holdings in Alaska and Argentina; and teamed with the recent acquisitions of rare-earth elements and iron ore projects in Canada confirm TNR’s commitment to continued generation of in-demand projects, while diversifying its markets and building shareholder value
On behalf of the board,
Gary Schellenberg
President"

Friday, July 04, 2014

TNR Gold & McEwen Mining Copper M&A: Lumina Copper Hits CAD10.36 - Is Another Bid Coming For Taca Taca Now? $TNR.v $MUX $LCC.v



All slides in this part of the post are from McEwen Mining presentations.


  We have only one question and concern, as you know. Why McEwen Mining is not properly working with Los Azules Copper project now? It is the world-class asset and "One of The World's Largest Copper Projects" according to Rob, why there is no appropriate marketing of it? Its proper sale will solve all capital problems which McEwen Mining is facing now in order to grow further. 
   We all have noticed the change in the company's goal - now S&P 500 target is not possible by 2015, but it is the great company with the great leadership, why Los Azules Copper has not being promoted properly so far?



   TNR Gold is moving forward with its Los Azules Copper Back-In Right asset and nobody is going to sell it cheap as it looks like now, so why is McEwen Mining not using the better climate in Argentina and rising Copper prices to tell its story? 


  
  The irony is here that: "soft Gold and Silver prices are due to the economic recovery" - what can be better hedge from "such an adversary" for the Gold Miner as Copper World-Class asset in this case? We would take it any day now as Chinese may one day.




Kirill Klip.:


Copper M&A: Lumina Copper Hits CAD10.36 - Is Another Bid Coming For Taca Taca Now?

  

  "Please do not get very excited and read my legal disclaimer carefully, but as we have seen before this kind of price action in Lumina Copper case can tell us that something is going on. It can be the simple arbitrage play by the big guns, but the market cap of Lumina copper is already higher than the calculated at the announced acquisition price by First Quantum Minerals. The announced price was CAD 470 million. Lumina Copper has 46,978,235 Fully Diluted shares, price at CAD10.36 gives us already CAD 487 million! I do not think that it is bet on rising Copper price or rising First Quantum share price - you can more safely buy the First Quantum shares in that case. Somebody thinks that Taca Taca can be worth more...
  Let's see what the next couple of weeks will bring us here. I will repost my yesterday's entry and you will appreciate later why it is important. Now Los Azules Copper will be making its rounds in the industry.



Mining M&A: China's Top Gold Firm Talking To Barrick And Friedland As Copper Rallies.


    

  As we have discussed before, we have really Hot Winter In Argentina for mining M&A. Now Frik Els confirms "China's Top Gold Firm Talking to Barrick Gold, Has Friedland "hotline":

"China's largest gold mining company, China National Gold, is officially setting up shop in junior mining hub Vancouver this week as part of a push into new markets and its global acquisition strategy.
President Xin Song told the Wall Street Journal ahead of Wednesday's event, the Beijing-based firm is on the hunt for global acquisitions and partnerships in gold, silver and copper:
"The growing strategy is very clear, we are going out looking at things globally. On our hands we have a few opportunities, at different stages."
Song, who also chairs the China Gold Association, has not ruled out acquisitions in developed countries, such as Canada, Australia and the US, but the main focus of its expansion strategy is assets in the region including in Mongolia, Russia and countries in central Asia.
Investments in "politically stable" countries in Latin America and Africa are also being considered Song said. Mining.com"





TNR Gold: Shotgun Gold Project - Why Do We Need New Gold Deposits?


"We are working on the corporate structure now, which will allow to develop Shotgun Gold with the potential new strategic partner on J/V basis like we are doing with Ganfeng Lithium in International Lithium. You can find more information in the Shotgun Gold Project presentation below, on our website and give us a call to discuss it at any time. Read more."




  Gold smells Inflation and is moving higher these days, Chinese quest for resources will bring new deals into the mining M&A space and projects like Shotgun Gold will be on the radar screens of investors again. 
  Now Copper is making headlines as well and Wall Street Journal reports "Copper Prices Seen Marching Higher":

"Some investors are turning bullish on copper prices, brushing aside concerns sparked by a probe into the metal's place in China's financial system. Instead, these investors are focusing on a rebound in manufacturing world-wide, which they expect will boost copper demand broadly. Increasing consumption by factories will offset any decline in the use of copper as collateral to back loans as a result of the probe, these investors say. China is the world's biggest copper consumer and importer, though how much of the metal goes to manufacturers is unclear. WSJ."

  As you already know, my personal take on the Missing Collateral in China is Bullish for the metals:


Bullish For Metals?! Missing Collateral in China, Follow The Trail of Loans, Copper and Fraud.


"In my personal opinion, we are witnessing the same game of the rehypothecation as it is happening with FED, BIS, Investment Banks and Gold. This, actually missing metal as collateral, will be the very bullish set up for the commodities markets. After initial selling due to the margin calls and unwinding of Paper Positions in the market, Mr Market will realise that all these metal accounted for the supply and demand picture is NOT there. Industrial demand will stay in place, but Supply which was supposed to be hoarded in the warehouses is missing: the collateral was used a few times for the different transactions. Read More."

Please Note our Legal Disclaimer on the Blog, including, but Not limited to:

There are NO Qualified Persons among the authors of this blog as it is defined by NI 43-101, we were NOT able to verify and check any provided information in the articles, news releases or on the links embedded on this blog; you must NOT rely in any sense on any of this information in order to make any resource or value calculation, or attribute any particular value or Price Target to any discussed securities.

We Do Not own any content in the third parties' articles, news releases, videos or on the links embedded on this blog; any opinions - including, but not limited to the resource estimations, valuations, target prices and particular recommendations on any securities expressed there - are subject to the disclosure provided by those third parties and are NOT verified, approved or endorsed by the authors of this blog in any way.

Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advice on this blog and there is no solicitation to buy or sell any particular company.


Tuesday, June 17, 2014

McEwen Mining And TNR Gold: Los Azules Copper And M&A in Argentina - First Quantum Minerals to Acquire Lumina Copper For $470 Million. $TNR.v $FC.to $MUX $LCC.v $ABX

  

McEwen Mining.


  Now let's see who will pick up on Los Azules Copper, TNR Gold and McEwen Mining story first ...

Kirill Klip.:


TNR Gold: Los Azules Copper And M&A in Argentina - First Quantum Minerals to Acquire Lumina Copper For $470 Million.


  
  
  "My expectations have not let me down this time. Lumina Copper is gone for 470 million. Proud people of Argentina can be expecting now the re-rating of risk and increased valuations for other mining projects respectively. My Team at TNR Gold and I will continue to write our story about Los Azules Copper M&A and Mariana Lithium project for our International Lithium.
  Los Azules Copper is the next prized asset to be talked about in the industry from today.

 "In any case this development is very encouraging for all of us involved in mining in Argentina and proud hard working people living there deserve much better economic progress. Maybe we are witnessing the beginning of such change. Political risk perception yesterday can be translated in the value catalyst tomorrow. It will be very positive for our International Lithium Mariana Lithium Brine project development with Ganfeng Lithium now as well. 
Is my Tenke Fungurume experience in DRC with Lukas Lundin coming here back for Los Azules in Argentina? We will see very soon, hopefully. He has taught me that governments come and go, that political situation and its perception can change on a dime for better or worse, but you cannot "print", QE or find new world class copper projects overnight. We have seen the bad all together already, I am very encouraged that the mining cycle is turning now. Read more"




Hot Winter In Argentina: Copper M&A, TNR Gold Los Azules - Lumina Copper Hits 52 Weeks High

 "It looks like we can have finally Hot Copper M&A winter in Argentina! Lumina Copper hit 52 week high at CAD7.47 yesterday rising from the recent Low by the end of March at CAD4.60. Please do not get too exited and rush with any decisions here. Yesterday's breakout was on a low volume, but volume was rising in the last few weeks. Read More."

TNR Gold Los Azules Copper M&A: Barrick Gold Strikes Deal With Pascua-Lama Mine Opponents


  "We have another very important confirmation that Barrick Gold is very serious about the re-start of its huge Pascua Lama mine building on the boarder of Argentina and Chile. All recent activity makes me think that somebody is more than likely is ready to support Barrick in this project with the capital and maybe even part of the Chinese market demand. All these developments are very positive for mining in Argentina and Lumina Copper advance demonstrates what potential assets re-pricing does really mean in this market environment. Reuters reports: "Barrick Strikes Deal With Pascua-Lama Mine Opponents."  Please carefully read my legal disclaimer and do not apply any of this information to any particular security or make any investment decisions. Now we have both of our valuation drives moving in the positive direction for TNR Gold: perception of political risk for mining in Argentina and copper prices reflecting Chinese PMI developments.
"May 28 (Reuters) - Canadian miner Barrick Gold has come to an initial agreement with local indigenous peoples in Chile who have opposed its stalled Pascua-Lama mine, taking a first step on what my be a long road to reactivating the project.
Barrick, the world's largest gold miner, halted the gold and copper project on the Chilean and Argentine border last year after investing $5 billion in it. Reuters."

The Art Of War For Resources: How China Fooled The World ... And Will Do It Again - "Surprise PMI Rise"



TNR Gold: Los Azules Copper Project In Argentina - Barrick Gold Seeks To Restart Pascua Lama.

"As you remember, Los Azules Copper project is located in San Juan province in Argentina. Barrick Gold's Huge Pascua Lama project is located in the same province on the boarder of Argentina and Chile. This ongoing development will be very positive for Argentina mining and Los Azules Copper project, providing the potential catalyst to TNR Gold.
"Copper M&A, Mining In Argentina And TNR Gold's Los Azules Copper Back-In Right. 
Particularly important for Los Azules Copper Project are the efforts by the government of Argentina "to overturn Barrick Gold's Pascua Lama freeze in Chile." Both projects are located in the same San Juan province in Argentina which is considered to be one of the most mining friendly in the country.  You can find more about our Los Azules Back-In Right in the presentation below and you can always contact us to discuss it."
"The sale of our Back-in Right will provide the necessary liquidity and catalyst to all of our group of companies. Rob McEwen has done a great job as Operator developing this project and now Los Azules is at the top of the list of the best copper projects in the world available for sale, according to PI Financial! I would recommend to contact Jim Mustard VP at PI Financial to get more information about Los Azules Copper project and our Back-In Right Asset. Read more."








Wall Street Journal:

First Quantum Minerals to Acquire Lumina Copper Corp., Cash and Share Transaction Valued at Approximately $470 Million


First Quantum Minerals to Acquire Lumina Copper Corp., Cash and Share Transaction Valued at Approximately $470 Million 
VANCOUVER, BRITISH COLUMBIA--(Marketwired - June 17, 2014) -
(All dollar amounts are in Canadian dollars, except where noted otherwise) 
First Quantum Minerals Ltd. ("First Quantum" or "the Company") (TSX:FM)(LSE:FQM) and Lumina Copper Corp. ("Lumina") (TSX VENTURE:LCC) announced today that they have entered into a definitive agreement pursuant to which First Quantum will acquire, by way of a court-approved plan of arrangement (the "Arrangement"), all of the outstanding securities of Lumina. Based upon the consideration, the total value of 100% of the fully diluted common shares of Lumina is approximately $470 million. First Quantum currently owns 2.5 million of Lumina's outstanding common shares.
Lumina is the 100% owner of the Taca Taca copper deposit located in the Puna region of Salta Province in northwest Argentina, approximately 120 kilometres east of the Escondida, the world's largest producing copper mine. Taca Taca currently has a reported National Instrument 43-101 compliant indicated mineral resource estimate of approximately 21.15 billion pounds of copper (9.6 million tonnes of copper) contained in 2.17 billion tonnes grading 0.44% copper, 0.08g/t gold and 0.013% molybdenum (0.57% copper equivalent) and an inferred mineral resource estimate of approximately 7.55 billion pounds of copper (3.4 million tonnes of copper) contained in 921 million tonnes grading 0.37% copper, 0.05g/t gold and 0.012% molybdenum (0.47% copper equivalent), using a 0.3% copper equivalent cut-off.(1) These estimates are defined by 148,000 metres of drilling. The deposit remains open in some areas to depth and along the southern boundary of the northeastern limb.
Commenting on the proposed transaction, Mr. Ross Beaty, Lumina's founder and largest shareholder said, "I am very pleased with First Quantum's intended acquisition of our company. First Quantum is an outstanding mining company with a significant and growing portfolio of copper operations. In our view, they are the most capable company in the world to develop Taca Taca into a major copper mine. This transaction provides Lumina shareholders with the option to retain exposure to Taca Taca's future development in the hands of a world class mine development and operating team through ownership of First Quantum's shares. I encourage all Lumina shareholders to vote in favour of this transaction."
Mr. Philip Pascall, Chairman and Chief Executive Officer of First Quantum said, "The acquisition of Lumina is another step in First Quantum's long-stated objective of geographical diversification through the acquisition of world class, early-stage copper assets. Taca Taca will significantly add to First Quantum's development pipeline and is at the stage where we can apply our resources and development expertise to realize its full potential and further add to First Quantum's copper production profile. Once the acquisition of Lumina has been completed we will immediately review the Taca Taca project to determine the most efficient and economical timing for its development in the context of the projects that we are currently developing."
About the Transaction: WSJ"
Please Note our Legal Disclaimer on the Blog, including, but Not limited to:

There are NO Qualified Persons among the authors of this blog as it is defined by NI 43-101, we were NOT able to verify and check any provided information in the articles, news releases or on the links embedded on this blog; you must NOT rely in any sense on any of this information in order to make any resource or value calculation, or attribute any particular value or Price Target to any discussed securities.

We Do Not own any content in the third parties' articles, news releases, videos or on the links embedded on this blog; any opinions - including, but not limited to the resource estimations, valuations, target prices and particular recommendations on any securities expressed there - are subject to the disclosure provided by those third parties and are NOT verified, approved or endorsed by the authors of this blog in any way.

Please, do not forget, that we own stocks we are writing about and have position in these companies. We are not providing any investment advice on this blog and there is no solicitation to buy or sell any particular company.